asked the Minister for Finance if he will state the total amount of (a) the nominal value and (b) the market value as at 31st December, 1959 of the sterling assets held by (i) the Central Bank and (ii) Departmental funds.
Ceisteanna—Questions. Oral Answers. - Sterling Assets: Value of Holdings by Central Bank and Departmental Funds.
11.
Mr. Ryan
The Central Bank of Ireland does not publish information about its assets in the form requested by the Deputy. Under Section 61 of the Currency Act 1927, as amended, the assets of the Legal Tender Note Fund are valued half yearly at values not exceeding the current market prices on the last day of February or 31st day of August as the case may be.
The value of the sterling assets held by the Legal Tender Note Fund is given in the weekly statement of the Fund which is published in Iris Oifigiúil. After the half yearly valuations these assets would appear at market value but between the valuations the value shown could diverge from market value depending on fluctuations in the gilt edged market.
The valuation of the assets of the General Fund is not subject to any special statutory provision, but the Bank have informed me that normal accountancy practice is observed. The value of the assets is given in the Bank's Annual Accounts but Sterling assets are not shown separately.
At 31st December, 1959, the nominal and market values of the sterling assets of the Departmental Funds under my control were £18.1 million and £17.9 million respectively.